Medical centre in Adelaide’s south up for sale
A medical centre in Adelaide’s south is up for sale is up for sale as demand for healthcare assets around Australia grows.
11 April 2025
The property, Marion Specialist Centre at 199 Stuart Road in Seacombe Gardens, consists of a 978sq m medical centre building on a 1,763sq m site, with 34 car parks.
The two-level medical centre was originally constructed around 1980 but was been fully refurbished in 2021/22 and is an A-grade facility.
It is fully leased to eight established medical and allied health tenants, including anchor tenant Radiology SA.
The asset is being taken to the market via an Expressions of Interest campaign run by Knight Frank agents Chet Al, Max Frohlich and Ryan Mills.
Mr Al said the medical investment opportunity had been met with strong buyer interest during the campaign to date.
“Potential purchasers have been drawn to the secure diversified cashflow of the property, underpinned by strong tenants and a staggered lease expiry profile with a long WALE of 5 years by income,” he said.
“The medical centre has a strong history of tenant retention and with limited surrounding alternatives for occupancy outside Westfield Marion there is a high probability of lease renewals.
“As investors have looked to diversify their portfolios in recent years, healthcare assets have been sought after, and the secure income offered by the Marion Specialist Centre has attracted buyers during the sales campaign.”
Mr Frohlich said the property was strategically positioned directly across from Westfield Marion, Adelaide’s largest shopping centre, including a bus interchange.
“It has high visibility to passing traffic daily and a strong street presence,” he said.
“The area also has plenty of surrounding amenity and complementary allied health uses and government support services, including Flinders Medical Centre and Flinders University.
“The building itself is of high quality, having undergone a complete refurbishment a few years ago including a major contemporary façade upgrade, lift replacement and full refurbishment of common bathrooms.
“This year the investment market has showed strong signs of recovery with several impending sales, and we are finding investors drawn to South Australia’s market due partly to the fact that there is no stamp duty for commercial transactions.”
The Expressions of Interest campaign for the property will close at 4pm (ACDT) on April 10.
